More Saudi investment requested for Vietnam

Vietnam is seeking to inspire more investors from Saudi Arabia to participate in new transport infrastructure projects, especially in seaports, airports, highways and railways, said Finance Minister Vuong Dinh Hue.

Minister Hue expressed the wish aspiration during a working session with the visiting Vice President and Managing Director of the Saudi Fund for Development, Yousef Ibrahim Al-Bassam, in Hanoi on Nov. 4.

Minister Hue highly valued the working visit by Yousef Ibrahim Al-Bassam and his entourage to Vietnam and said that Vietnam is paying attention to development of infrastructure and has a large demand for capital. He said he hoped that the Saudi Fund for Development will agree to increase the number and scale of loan projects to Vietnam .

Yousef Ibrahim Al-Bassam expressed his pleasure at the signing of two agreements on social welfare projects with Vietnam and said a group of Saudi Arabian experts will visit Vietnam to discuss loan projects including development projects in education and rural development.

Earlier, on Nov. 1, the Finance Ministry signed loan agreements with the Saudi Fund for Development on a 14.5 million USD project to equip a hospital and medical training centre in northern Bac Kan province and an 11 million USD project to provide facilities for vocational training in the southern province of Ninh Thuan./.